Lam Research Files 8-K on Director Changes and Compensation

Ticker: LRCX · Form: 8-K · Filed: 2024-08-30T00:00:00.000Z

Sentiment: neutral

Topics: corporate-governance, executive-compensation, filing

Related Tickers: LRCX

TL;DR

LRCX filed an 8-K: director changes, exec comp details, and financial exhibits.

AI Summary

Lam Research Corporation (LRCX) filed an 8-K on August 28, 2024, reporting on the departure of a director, election of a new director, and compensatory arrangements for certain officers. The filing also includes financial statements and exhibits, though specific details on dollar amounts or new officer compensation are not provided in this excerpt.

Why It Matters

This filing signals potential shifts in the company's board composition and executive compensation structure, which could impact strategic direction and investor confidence.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of corporate governance and compensation matters, not indicating immediate financial distress or significant operational changes.

Key Players & Entities

FAQ

Who is the departing director and who is the newly elected director?

The filing indicates the departure of a director and the election of a new director, but their specific names are not provided in this excerpt.

What are the details of the compensatory arrangements for certain officers?

The filing mentions compensatory arrangements for certain officers as an item of disclosure, but the specific terms and amounts are not detailed in this excerpt.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on August 28, 2024.

What is Lam Research Corporation's state of incorporation?

Lam Research Corporation is incorporated in Delaware.

What is the principal executive office address for Lam Research Corporation?

The principal executive office address for Lam Research Corporation is 4650 Cushing Parkway, Fremont, California 94538.

Filing Stats: 1,389 words · 6 min read · ~5 pages · Grade level 10.3 · Accepted 2024-08-30 16:09:16

Key Financial Figures

Filing Documents

01. Financial Statements and Exhibits 4

Item 9.01. Financial Statements and Exhibits 4 SIGNATURES 5 EX-99.1 Table of Contents Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (d) Election of Directors On August 28, 2024, the Board of Directors (the "Board") of Lam Research Corporation (the "Company"), pursuant to applicable provisions of the Company's Amended and Restated Bylaws, appointed Ita M. Brennan, age 57, and Mark Fields, age 63, as directors of the Company, effective August 30, 2024. In connection with the director appointments, the size of the board was increased by two. On November 5, 2024, Ms. Brennan will join the Audit Committee of the Board, and Mr. Fields will join the Compensation and Human Resources Committee of the Board. Ms. Brennan is the former Senior Vice President, Chief Financial Officer of Arista Networks, Inc., a cloud networking solutions company, a position she held from May 2015 to February 2024. Over her career, Ms. Brennan has held several key finance roles. From March 2014 to May 2015, she served as Chief Financial Officer of QuantumScape Corporation, a battery manufacturing company. Prior to joining QuantumScape, she served as the Chief Financial Officer of Infinera Corporation, a telecommunications equipment company, from July 2006 to February 2014, and as Vice President of Finance and Corporate Controller from July 2006 to July 2010. From 1997 to 2006, Ms. Brennan held various roles at Maxtor Corporation, an information storage solutions company, including Vice President of Finance for the company's worldwide operations. Ms. Brennan has served as a member of the board of directors of: Planet Labs PBC, an earth imaging company, since June 2021, where she serves as the chair of the audit committee; and Cadence Design Systems, Inc., a computational software company, since March 2020, where she serves as the chair of the corporate governance and nominating

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits 99.1 Press Release dated August 30, 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document Table of Contents

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 30, 2024 LAM RESEARCH CORPORATION (Registrant) /s/ Ava A. Harter Ava A. Harter Senior Vice President, Chief Legal Officer

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